Both Visa and MasterCard are giant companies that process transactions between your purchase merchant and your bank. They constantly release new security updates to avoid fraud cases.

From 2003 to 2013, Visa successfully reduced their fraud ratio by 0.024%, while MasterCard successfully released 2.5 million bio-metric debit EMV cards to South Africa in 2012, and 13 million bio-metric national cards in Nigeria in 2013.

Future security layers will focus more on bio-metrics such as facial, voice, and fingerprint recognition.